MORE than £2m has been secured for a development that is expected to create more than 500 jobs in the agriculture industry.

Government funding worth £2.1m has been secured for infrastructure needed to create a new livestock market and agri-business park near Eden Camp Museum at Old Malton in Ryedale.

The money will go towards the cost of a new roundabout on the A169 and other infrastructure to provide access to the twin employment sites.

The development should bring more than 500 new jobs in agriculture-related industry to the region and more than 700 other indirect jobs created by business activity at the Edenhouse Road project.

Existing jobs at Malton’s Livestock Market will be safeguarded as it moves from its current historic location in Malton town centre.

Work on the livestock market at the 18 hectare site is expected to begin first.

The developers of the Edenhouse Road scheme worked closely with Ryedale District Council and the York, North Yorkshire and East Riding Local Enterprise Partnership to secure the funding.

Cllr Linda Cowling, leader of Ryedale District Council, said: “I am absolutely delighted that the funding bid for the infrastructure needed to allow the Eden Camp employment site to proceed has been successful.

“It was vital for the future of a livestock market in Ryedale.

“The additional employment sites at Edenhouse Road will be a tremendous boost to jobs in Ryedale. The location could not be better, providing good access for potential employees from the towns and villages in the north of Ryedale and in Malton and Norton.”

Charles Vyvyan from the developers leading the initiative, Commercial Development Projects, said they will reveal detailed plans for the new facility to the farming community and potential investors in February.

He said the livestock market and agricultural business park will bring a boost to the local and regional economy.

It is expected that the £2.1m government grant towards infrastructure will release more than £25m of private sector investment in the sites.

The funding award is the second major success for Ryedale via the York, North Yorkshire and East Riding LEP and the Government’s Local Growth Fund. Last year, £8.3m was awarded to the Sand Hutton-based Food and Environment Research Agency site to help create 800 new jobs as the site transformed to the National Agri-Food Innovation Campus.